NVIDIA Co. (NASDAQ:NVDA) Stock Position Lowered by South Street Advisors LLC

South Street Advisors LLC trimmed its holdings in NVIDIA Co. (NASDAQ:NVDA) by 6.8% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 423,069 shares of the computer hardware maker’s stock after selling 30,646 shares during the period. NVIDIA accounts for about 7.8% of South Street Advisors LLC’s investment portfolio, making the stock its largest position. South Street Advisors LLC’s holdings in NVIDIA were worth $51,377,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Quest Partners LLC purchased a new position in NVIDIA during the second quarter worth $27,000. Christopher J. Hasenberg Inc acquired a new position in NVIDIA in the 3rd quarter valued at about $27,000. University of Texas Texas AM Investment Management Co. purchased a new position in NVIDIA in the 2nd quarter valued at about $31,000. West Financial Advisors LLC acquired a new stake in shares of NVIDIA during the 3rd quarter worth about $36,000. Finally, DHJJ Financial Advisors Ltd. grew its holdings in shares of NVIDIA by 70.0% during the third quarter. DHJJ Financial Advisors Ltd. now owns 340 shares of the computer hardware maker’s stock worth $41,000 after buying an additional 140 shares in the last quarter. Institutional investors and hedge funds own 65.27% of the company’s stock.

NVIDIA Price Performance

Shares of NASDAQ NVDA opened at $134.29 on Thursday. NVIDIA Co. has a twelve month low of $47.32 and a twelve month high of $152.89. The company has a current ratio of 4.10, a quick ratio of 3.64 and a debt-to-equity ratio of 0.13. The firm has a 50-day moving average of $139.55 and a two-hundred day moving average of $128.09. The company has a market capitalization of $3.29 trillion, a price-to-earnings ratio of 52.85, a PEG ratio of 2.43 and a beta of 1.63.

NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.69 by $0.12. The company had revenue of $35.08 billion for the quarter, compared to analysts’ expectations of $33.15 billion. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. The firm’s revenue was up 93.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.38 earnings per share. As a group, analysts expect that NVIDIA Co. will post 2.78 earnings per share for the current fiscal year.

NVIDIA Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Thursday, December 5th were issued a dividend of $0.01 per share. The ex-dividend date of this dividend was Thursday, December 5th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.03%. NVIDIA’s dividend payout ratio is currently 1.57%.

Insider Activity at NVIDIA

In related news, Director Mark A. Stevens sold 155,000 shares of the firm’s stock in a transaction that occurred on Wednesday, October 9th. The shares were sold at an average price of $132.27, for a total transaction of $20,501,850.00. Following the completion of the sale, the director now directly owns 8,100,117 shares in the company, valued at approximately $1,071,402,475.59. This trade represents a 1.88 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Colette Kress sold 66,670 shares of the business’s stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $135.40, for a total transaction of $9,027,118.00. Following the transaction, the chief financial officer now directly owns 3,351,572 shares in the company, valued at $453,802,848.80. The trade was a 1.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,226,886 shares of company stock worth $161,499,400. 4.23% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the company. Raymond James upped their target price on NVIDIA from $140.00 to $170.00 and gave the company a “strong-buy” rating in a research note on Thursday, November 14th. Bank of America reaffirmed a “buy” rating and set a $190.00 price target on shares of NVIDIA in a research report on Thursday, November 21st. Piper Sandler upped their price target on NVIDIA from $140.00 to $175.00 and gave the stock an “overweight” rating in a report on Monday, November 11th. TD Cowen boosted their target price on shares of NVIDIA from $165.00 to $175.00 and gave the stock a “buy” rating in a research report on Thursday, November 21st. Finally, Loop Capital restated a “buy” rating and set a $175.00 target price on shares of NVIDIA in a research note on Wednesday, November 20th. Four research analysts have rated the stock with a hold rating, thirty-nine have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $164.15.

About NVIDIA

NVIDIA Corporation provides graphics and compute and networking solutions in the United States, Taiwan, China, Hong Kong, and internationally. The Graphics segment offers GeForce GPUs for gaming and PCs, the GeForce NOW game streaming service and related infrastructure, and solutions for gaming platforms; Quadro/NVIDIA RTX GPUs for enterprise workstation graphics; virtual GPU or vGPU software for cloud-based visual and virtual computing; automotive platforms for infotainment systems; and Omniverse software for building and operating metaverse and 3D internet applications.